NAVA BHARAT DOLLARISES THERMAL POWER PLANT AGREEMENT

NAVA BHARAT has dollarised the power purchase agreement for its thermal power plant, up for construction at Maamba Coal mine, Southern province.

The Singaporean company has also focused next January as the timeframe for commencement of operations at the 600 megawatts thermal plant, up for construction has been pegged in dollars.

This is according to NAVA BHARAT Ventures Director, PJV Sarma as quoted by CNBC Television Channel 18 monitored in Lusaka.

Mr Sarma has hinted that the development of the plant will be in 2 phases with the first being the first consisting of a 300 megawatt power plant, in which the company says it has made significant progress.

He has added that so far, the 33 to 36 months schedule for the power plant is on schedule with operations projected for commencement next January.

Meanwhile, revamping the already existing coal mine and setting up a power plant, inclusive of the installation of a coal handling and processing plant, expected to be functional by the first quarter of next year.

Mr Sarma has further explained that from March and April 2012, the new coal handling processing plant will be producing 6,000 to 6,500 kilo-calorie of high grade quality coal.

NAVA BHARAT took over the operations of Maamba Collieries in April 2010 on a 65 per cent stake with 35 per cent still in the Zambian government’s hands.